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Expenses - ISDA Provision: Difference between revisions
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{{isdasnap|11|{{isdaprov|Expenses}} <br> A {{isdaprov|Defaulting Party}} will, on demand, indemnify and hold harmless the other party for and against all <br> reasonable out-of-pocket expenses, including legal fees and {{isdaprov|Stamp Tax}}, incurred by such other party by <br> reason of the enforcement and protection of its rights under this {{isdaprov|Agreement}} or any {{isdaprov|Credit Support Document}} <br> to which the {{isdaprov|Defaulting Party}} is a party or by reason of the early termination of any {{isdaprov|Transaction}}, including, <br> but not limited to, costs of collection. <br>|{{isdaprov|Expenses}} <br> A {{isdaprov|Defaulting Party}} will on demand indemnify and hold harmless the other party for and against all reasonable out-of- <br> pocket expenses, including legal fees, execution fees and {{isdaprov|Stamp Tax}}, incurred by such other party by reason of the <br> enforcement and protection of its rights under this {{isdaprov|Agreement}} or any {{isdaprov|Credit Support Document}} to which the <br> {{isdaprov|Defaulting Party}} is a party or by reason of the early termination of any {{isdaprov|Transaction}}, including, but not limited to, <br> costs of collection. <br> | {{isdasnap|11|{{isdaprov|Expenses}} <br> A {{isdaprov|Defaulting Party}} will, on demand, indemnify and hold harmless the other party for and against all <br> reasonable out-of-pocket expenses, including legal fees and {{isdaprov|Stamp Tax}}, incurred by such other party by <br> reason of the enforcement and protection of its rights under this {{isdaprov|Agreement}} or any {{isdaprov|Credit Support Document}} <br> to which the {{isdaprov|Defaulting Party}} is a party or by reason of the early termination of any {{isdaprov|Transaction}}, including, <br> but not limited to, costs of collection. <br>|{{isdaprov|Expenses}} <br> A {{isdaprov|Defaulting Party}} will on demand indemnify and hold harmless the other party for and against all reasonable out-of- <br> pocket expenses, including legal fees, execution fees and {{isdaprov|Stamp Tax}}, incurred by such other party by reason of the <br> enforcement and protection of its rights under this {{isdaprov|Agreement}} or any {{isdaprov|Credit Support Document}} to which the <br> {{isdaprov|Defaulting Party}} is a party or by reason of the early termination of any {{isdaprov|Transaction}}, including, but not limited to, <br> costs of collection. <br>}} | ||
==Commentary== | ==Commentary== | ||
Observers will note that, but for the odd comma, these two provisions are identical. And revolutionarily brief. Not that they couldn't be improved, of course; they just weren't. | Observers will note that, but for the odd comma, these two provisions are identical. And revolutionarily brief. Not that they couldn't be improved, of course; they just weren't. | ||